Oregon Law
Law as of Jan 1, 2026
Chapter contents
470.050Definitions 470.060Application for financing; content; fee 470.065Confidentiality of information provided by or on behalf of applicant 470.070Small Scale Local Energy Project Advisory Committee 470.080Standards for small scale local energy projects; rules; review of applications; referral to committee; committee criteria 470.085[1985 c.593 §8; repealed by 1991 c.118 §4] 470.090Approval or rejection of project financing by director; certification of amount of loan; findings; notice 470.100Committee review of rejection or approval in different amount; committee appeal to Governor; finality of Governor’s action 470.110Gifts credited to Small Scale Local Energy Project Loan Fund 470.120Limit on loan to amount not funded by other sources 470.130Appropriation of Small Scale Local Energy Project Loan Fund 470.135Administration of small scale local energy project loan program funds and accounts 470.140Rulemaking authority 470.145State Department of Energy to develop marketing plan 470.150Loan contract; security; content 470.155Loan contract in form of intergovernmental agreement; provisions 470.160Payment from loan funds 470.170Security for loan 470.180Withholding of state funds due to municipal corporation that defaults on loan 470.190Remedies 470.200Refinancing of project; use of funds 470.210Municipal corporation may enter into loan contract; purchase of municipal corporation’s general or revenue obligation 470.220Issuance of bonds 470.225Procedure for bond issuance 470.230Bond proceeds credited to Small Scale Local Energy Project Loan Fund; use of funds 470.240General obligation bonds to include promise to pay principal amount 470.250[1979 c.672 §20; 1981 c.50 §6; 1987 c.158 §102; 2003 c.186 §70; repealed by 2005 c.201 §14] 470.260[1979 c.672 §23; 1981 c.50 §7; 2003 c.186 §71; repealed by 2005 c.201 §14] 470.270General obligation refunding bonds 470.280General obligation bond repayment from sinking fund 470.290Bond indebtedness limited to constitutional limit 470.300Small Scale Local Energy Project Administration and Bond Sinking Fund; uses; sources 470.310Procedure if sinking fund inadequate 470.500Goals 470.505Delay or suspension of program 470.510State Department of Energy may enter contracts for loan issuance; financing of loans; consent of utility 470.515Rules 470.520State Department of Energy may contract for performance of duties 470.525Quarterly report 470.530Qualifications; duties; certification program 470.535Applications for certification as project manager; selection factors 470.540State Department of Energy to notify unsuccessful applicants; time- table for certification of project manager 470.545Appeal of certification decision; fee 470.550Term of certification of project manager; certification approval letter; conditions for termination of certification 470.555Project managers; contract with qualified third parties; coordination 470.560Rules; certification standards; provision for preferred service providers 470.565Loan applicant request for energy savings projection; processing of loan applications 470.570Energy Project Supplemental Fund; sources; uses 470.575Jobs, Energy and Schools Fund; sources; uses 470.580Energy Project Bond Loan Fund; sources; uses 470.585Energy Revenue Bond Repayment Fund; uses 470.590Proposals; selection 470.595Investment with financial manager; rate of return 470.600State Department of Energy may enter agreements to disburse supplemental capital funds; conditions 470.605Local governments may direct moneys to certain funds to finance loans; accounting of moneys 470.610Issuance of bonds; written declarations of State Department of Energy 470.615Payment of bonds 470.620Bond pledges; trustees 470.630Form of disbursement; conditions for issuance 470.635Requirement for energy savings projection; form of projection; use of certified primary contractors 470.640Amount of loans; exceptions 470.645Application for loan; contents 470.650Residential small scale local energy projects; weatherization program 470.655Project initiation fee; base efficiency package fee; rules 470.660Investor-owned utilities; requirements of system; rules; waiver 470.665Consumer-owned utilities; requirements of system; rules; waiver 470.670Repayment requirement for customer served by electric utility and gas utility 470.675Cost eligibility for ratemaking purposes; loan repayment charges 470.680State Department of Energy to identify forms of acceptable security 470.685Recording liens; foreclosure of liens; attorney fees and costs 470.690Avoidance of foreclosure 470.695Sale of real property; notice of loan repayment charge required 470.700Use of loan offset grant moneys; alternate mechanisms 470.710Apprenticeship and job training 470.715Costs of adopting rules 470.720Loan program information to be provided by utilities; rules 470.800Clean Energy Deployment Fund; sources; uses 470.805Renewable Energy Development Subaccount; sources; uses 470.810Clean energy deployment program; prevailing wage requirements; rules 470.815School district projects 470.825Definitions for ORS 470.825 to 470.840 470.830Grants for community renewable energy projects; application; rules 470.835Performance agreements; requirements 470.840Advisory Committee on Community Renewable Investment 470.845Community Renewable Investment Fund; reports

Chapter 470 — Small Scale Local Energy Projects

ORS 470.240 General obligation bonds to include promise to pay principal amount

All general obligation bonds issued under ORS 470.220 to 470.290 and Article XI-J of the Oregon Constitution shall contain a direct promise of the State of Oregon to pay the principal amount of the bonds, plus any accrued interest and any redemption premium. The principal of and the interest and redemption premium, if any, upon the bonds, when due, shall be paid at the fiscal agency of the State of Oregon. The charges imposed by that agency for its services shall be paid, upon approval by the State Treasurer, from the Small Scale Local Energy Project Administration and Bond Sinking Fund.

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